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The Drop of Gas

Good News! Gas is continuing to drop, the average cost per gallon of gas in the U.S. is now .53 cents cheaper than it was just two weeks ago.

Finally a Break in Gas Prices

Not only are we finally seeing a break in gas prices, but we have finally updated some good news for you guys. Gasoline consumption has dropped 5.2% in the third quarter of this year. This is the largest decline in gas consumption in well over a decade. This drop is the main cause of the lower prices. The refineries are seeing a huge amount of inventory and are cutting prices to reduce the excess gasoline in storage. A barrel of oil is trading at $60.82 which is less than half on the price of a barrel of oil in July. The analysts expect that the price of a barrel of oil should level out around $60.00 +/- for the next 6 months. We should see an increase in prices in late spring, but that is a normal tread due to more consumption.

Average Gas Prices

GOOD NEWS!
The national average was $3.74 a gallon, down 35 cents from a month ago. With consumers cutting back on driving to save money, prices have now dropped 9 percent from the nationwide record $4.11 retail gas reached July 17.

Credit Cards

One significant way to save money at the pump is with the gas rebate credit card. FuelMeUp has researched several different card offers and even interviewed card holders. One of the best gas saving credit cards is the Discover® Open RoadSM Card. You can save 5-7% per fill up. Right now that savings is about 18 cents per gallon of gas you purchase. Another great card that you need to apply for is the American Express Simply Cash card. This card gives you 5% cash back on all gasoline purchases. FuelMeUp suggests that you apply for both cards because the acceptance rate is closely monitored for both programs. (Free to do, so you have nothing to loose)